Sri Lanka-Maldives Business Council holds 10th Annual General Meeting

Executive Committee of the Sri Lanka-Maldives Business Council 2018/2019

(Seated from left): Vice President Shenali Panabokke, Counsellor for the Republic of Maldives Mohamed Ahmed Waheed, President Devinda Lorensuhewa, Vice President Kevin Edwards, Secretariat Ayoni Rangala, Immediate Past President Niral Kadawatharatchie

(Standing from left): Committee Members Rasika Pushpakumara – Cinnamon Hotel Management, Tikiri Ellepola – Aitken Spence Travels, B.K. Sudesh Mendis – Ocean Trade and Logistics, Priyantha Colonnage – Pyramid Wilmar, Manjula Marasinghe – Marine Transport Services, Manura Wickramasinghe – Puritas, Ikram Ghazali – CMA CGM Lanka, Bandula Egodage – Nestle Lanka PLC

Sri Lanka-Maldives Business Council (SLMBC) of The Ceylon Chamber of Commerce held its 10th Annual General Meeting (AGM) on 10 July, at the Hilton Colombo Residences and Counsellor Mohamed Ahmed Waheed, from the Embassy of the Republic of Maldives was the Chief Guest at the event.

Niral Kadawatharatchie, the president called the meeting to order and welcomed the chief guest, members and the invitees. A copy of the annual report was presented to Waheed. Kadawtharatchie emphasised in his speech on the new taxation that the Maldives Government is going to introduce and stated that council is going to take up this matter with the Embassy about the possibility of signing a double taxation agreement with the Maldives government which will result in tax relief to the business community in Sri Lanka who are doing business with Maldives. Kadawatharatchie thanked the two Vice Presidents, the Committee and the Chamber Staff and wished good luck to the newly appointed Executive Committee for their future activities.

Speech made by the Chief Guest, Mohamed Ahmed Waheed, from the Embassy of the Republic of Maldives is as below: 

“I am confident that under the leadership of President of the council, this council will aim to strengthen trade ties between Sri Lanka and Maldives, and to continue the good works laid out by the previous president of this council. Hence I also feel privilege to thank the previous president and his team on their commitment in pursuing goals of this business council.

The trade relation between the Maldives and Sri Lanka is a relationship with rich history and our people share commonalities in culture, language, religion, folk tradition, music and dance bearing testimony to the intensity of contacts between our peoples for several centuries. Trade relations also dates back to hundreds of years. I believe that it was the geographic proximity between our two countries and (economic) need that brought our forefathers to the shores of Sri Lanka with whatever little they had to trade with the Sri Lankans, thus helping us become trusted friends and close trading partners from ancient times. 

But today, the trade patterns of both Sri Lanka and Maldives have undergone massive changes, and our bilateral trade relations cannot stop at Maldives fish only). Our business relationships have become multidimensional and is progressing on a number of fronts – including Trade, Tourism, Education, Health as well as Social and Cultural Cooperation. 

The fact that there are more than 100 registered companies in the Sri Lanka-Maldives Business Council proves that significance of our trade links. Today Sri Lanka exports close to 40 types of products to the Maldives. The most important being agricultural products like fruits and vegetables, dried ice, insecticides, pharmaceuticals, electrical goods, construction products and of course Sri Lankan tea. Even today, dried fish and canned tuna remain as Sri Lanka’s leading imports from Maldives. As you know, the economy of Maldives is an open economy based on free enterprise. Presently our economy is stable and is growing at 6.4% annual growth rate. DDP per capita income is more than 9000 dollars with the contribution of massive infrastructure developments, especially with the addition of new resorts in the last four years. 

Maldives is heading towards major economic transformation under the visionary leadership of President Abdulla Yameen Abdul Gayyoom. Hence I take this opportunity to invite all interested business investors to join us in our economic transformation. I am sure that there are huge opportunities to invest in the hotel industry, construction or infrastructure development, IT industry, just to name a few. Our Embassy here is more determined to strengthen the bilateral trade between Sri Lanka and Maldives. In this regard, we assure our support to the Sri Lanka-Maldives Business Council to work towards achieving mutual trade benefits.”

Kalani Cables PLC Deputy General Manager – Marketing Devinda Lorensuhewa was elected as the President of the Sri Lanka-Maldives Business Council for the year 2018/2019. Eastern & Allied Agencies Ltd. Director Shenali Panabokke and E.B. Creasy & Company PLC CEO Kevin Edwards were elected as vice presidents. Freight Links International Ltd. President/CEO Niral Kadawatharatchie will serve the Committee as the immediate past president. As for Committee Members of the council for the year 2018/2019, Aitken Spence Travels Ltd., CMA CGM Lanka Ltd., Cinnamon Hotel Management Ltd., Marine Transport Services Ltd., Nestle Lanka PLC, Ocean Trade and Logistics Ltd., Puritas Ltd., Pyramid Wilmar (Ltd.) were appointed.